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AUD/NZD fluctuates around unchanged.....>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD fluctuates around unchanged levels and last deals at
NZ$1.0777. Following yesterday's sell-off, bears look for further losses past
the NZ$1.0671-68 support zone, formed by the lows of May 22, 27, 28 & 29. A
break here would expose NZ$1.0608, where the rate bottomed out on May 11. Bulls
see Jun 2 high of NZ$1.0881 as their initial target. A move through that level
would bring the channel top at NZ$1.0931 into play.
- Australia has unveiled a A$688mn stimulus package designed to support domestic
housing construction industry, touted earlier by gov't off'ls. The scheme will
involve grants for new home builders and those willing to undertake major
renovations.
- Australia's trade balance and retail sales are due later today, as is New
Zealand's ANZ Commodity Price Index.

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